Wells-Fargo Bank Complaint - This HAS to be illegal...
My problems with Wells-Fargo date back a few years and are numerous.
It started in February, 2005, when I got reported to Chexsystems for a check that had bounced at Union Federal (I had moved up here to MN when that happened, and had no idea about the overdraft.) On the day that my car broke down, and I went to the auto parts store to purchase the part to fix it, my bank card from Wells-Fargo got rejected. Puzzled, since I knew the money was in the account, I called Customer Service and asked what happened. I was then informed that I had been reported to Chexsystems and that my account at Wells-Fargo was to be closed in 10 business days. Okay, I said, I will go to the bank and get my money out. Oh, no, they said, your account has been frozen for 10 business days and we will send you a cashier's check for the balance at that time. Well, of course, I went ballistic. I don't know how they expected me to pay for the bounced check that got me into this mess if THEY WOULDN;T GIVE ME MY MONEY!! There wasn't much I could do about it, so when I got my money two weeks later, I opened up a new account. Keep in mind here, I NEVER BOUNCED A CHECK TO THEM.
My next set of problems started when my boyfriend (who has a Wells-Fargo checking account) and I tried to purchase a house through their Financial department, only to find out TWO days before closing on the new home that they weren't going to do our loan, after all. Luckily, our realtor knew an excellent loan manager who got our loan done in two days.
Then, when we were moving from Indiana, back to Minnesota, my boyfriends check card got cancelled no less than three times. He had the money in the account all right, but when he called to inquire about the cancellation, he was informed that there was a flag on his account because we were traveling through several different states. I guess they thought the check card was stolen, which is understandable the first time, but the second and third?? After he told them do not, under any circumstances, flag my account because I am moving and will be traveling through these states?? They didn't get it. Finally, after we met with the bank manager, things supposedly got straightened out. We will see when we go to Indiana to visit family, this summer...
And the last problem happened just today. Last Monday, I went to Wells-Fargo to open a checking account (I know, stupid me!!) because I got a new job and wanted direct deposit. Well, because of where I work, I qualified for a preferred checking account. The only problem, I was reported to Chexsystems yet again because I had overdrawn my old account at TCF by $0.02 and had incurred multiple overdraft fees that I did not know about, since to my knoweledge, the account was closed. They said they could go ahead and open the account at Wells-Fargo, because they bank manager knows me and my boyfriend, and she knows we will not rip them off. I was told, by her, that as long as within the next 24 hours (from Monday) I went to TCF and took care of the debt and brought her a letter that it was taken care of, she would put it in my file and make a note on my account that it is taken care of and to put NO HOLDS on the account. Well, needless to say, I held up to my end of the bargain, paying off the old account and giving her her letter, but she did not hold up to her end. I found out today, when I went to Target (my new place of employment) that the account had some sort of hold on it. I, of course, find this out after all my purchases had been rung up. The check gets rejected, and I feel like a fool in front of all my new co-workers, and I call the bank, irate. That was when I was informed of the mistake, and told that yet again, they were going to hold all the money in my account for 10 business days and I would not be able to access it. Of course, I tried to explain the situation to Customer Service, but they said no note had been made on my account regarding anything.
Needless to say, I am infuriated. It doesn't seem like it should be legal to hold someone's money from them..especially when they haven't done anything!!!! I have bounced no checks to Wells-Fargo, ever!! How can they do this??!! How can this be legal??!!!